GSP renewal for Ecuador

US House of Representatives approves GSP renewal for Ecuador

The Foreign Ministry added that once procedures conclude in both Parliament Chambers, President Donald Trump must sign the law for the GSP to come into force.

Quito, Feb 14 (Andes).- The US House of Representatives approved yesterday the draft bill that renews the Generalized System of Preferences for Ecuador for three years until the end of 2020, informed the Ministry of Foreign Affairs.

The topic must now be analyzed by the US Senate.

The Foreign Ministry added that once procedures conclude in both Parliament Chambers, President Donald Trump must sign the law for the GSP to come into force.

Ecuadorian President Lenin Moreno reacted favorably to such measure. “Great news for Ecuadorian exporters! Tariff preferences with the United States remain until the end of 2020.”

The Ecuadorian Foreign Ministry, along with other State institutions, made all necessary efforts to maintain the GSP for Ecuador.

The GSP, which benefits more than 120 developing countries, including Ecuador, expired on December 31 2017. It is supported by both Democrats and Republicans, in the House of Representatives and in the Senate as well as by the US Federal Administration itself.

The Ministry of Foreign Affairs will continue to make all necessary efforts until the renewal of the GSP becomes into force.

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